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Economy & Policy

Hungary aims to achieve energy independence from Russia

Hungary has all the energy sources to make it independent and green.

Hungary has all the energy sources, such as wind and geothermal, to make it independent and green in the energy transition.

In Brussels, Minister of Technology and Industry László Palkovics talked with the EU Commissioner for Employment and the Environment and presented the government’s plans in the fields of energy and transport. Palkovics discussed with European Green Deal Commissioner Frans Timmermans that Hungary plans to invest EUR 16 billion, with a focus on transforming the electricity system. 

A significant part of the plan would be financed by the government through the Recovery Fund loan facility. 

The project is about greening and digitalization, with solar and wind power available in Hungary. He added that Hungary is a country with strong wind security; there are wind farms in areas where wind speeds are higher than 7.5 meters per second, although there are already technologies that can generate power at lower wind speeds as well. Geothermal is also included in the investment plan.

Palkovics said that in Hungary, the potential for biogas is still untapped, and while 1.5 billion cubic meters of biogas can be produced in Hungary, 80 million cubic meters are now being produced.

In Hungary, like its neighboring countries, energy use is based on oil and gas, and the economy cannot be transformed quickly, which is why the government has taken a stronger stance on this topic in the EU. Nevertheless, Hungary aims to reduce dependence on Russian energy imports and achieve independence, he said. 

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